The Clap
According to Al Mal, the PIF in KSA is close to acquiring the stakes of NIB and the Ministry of Finance in MOPCO. The total stake they are seeking to acquire is 18.8%, which would increase their total stake to 24.53%.
The Deets
Several days ago, Al Mal reported that the PIF has successfully acquired GASCO’s 5.72% stake in MOPCO for a total exceeding EGP 1 billion.
Background
Last week, there were reports that ADQ is negotiating to purchase an additional stake in MOPCO.
Related Information
NIB and the Ministry of Finance hold 12.81% and 6% stakes in MOPCO respectively. The Ministry of Finance sold a 20% stake in MOPCO several months ago.
The PIF has established an investment company in Egypt that aims to ease investing in different sectors in Egypt.
PIF close to acquiring additional MOPCO stake 💵
